Untether Technologies Inc. and Untether Capital Inc. (Proposal)

Untether Technologies Inc. and Untether Capital Inc. are in Division I proposal proceedings under the Bankruptcy and Insolvency Act in Ontario, begun by a notice of intention dated October 29, 2024 under subsection 50.4(1), with MNP Ltd. as licensed insolvency trustee under court file 31-3147139. The Form 78 statement of affairs for Untether Technologies, sworn November 26, 2024 by Kirk Tobias, shows estimated realizable assets of nil against a Bank of Montreal CSBF loan of $259,091.70 and a deficiency of $259,091.70. On a group basis the trustee reports indebtedness of $4,201,000 and five Mobile Cafes valued at approximately $1,950,000. Under the joint proposal, third-party secured creditors holding $1,500,000 would be paid in full from the Proposal Fund, against an estimated $1,037,800 in a bankruptcy, and related party creditors $1,000 each.